C-suite

Pay for the leaders of Canada’s five largest banks rose an average of 28% as the lenders’ earnings increased and shares gained.

Wall Street gets an automated nonfungible tokens machine, credit union arrivals and departures, and more in banking news this week.

Respecting employees’ time and expecting them to respect others’ sets a tone. It brings structure to organizations and fosters professionalism, reliability and trustworthiness.

Bank of America boosted Chief Executive Brian Moynihan’s compensation 31% to $32 million for 2021, a year in which the firm set a record for profitability. 

JPMorgan Chase raised Chief Executive Jamie Dimon’s total compensation 10% to $34.5 million for his work in 2021, the firm’s most profitable year on record.

Ravi Mallela will step down as chief financial officer in early January. Chief Risk Officer Ralph Mesick will serve as interim CFO while the company searches for Mallela's replacement.

Credit Suisse Group named Francesco De Ferrari to head its global wealth business and appointed new heads for the Americas and Switzerland, as the bank reorganizes after one of its most difficult years since the financial crisis.

Societe Generale Chief Executive Frederic Oudea is taking over the bank’s risk and compliance functions, seeking greater control over management of the bank’s legal affairs after it paid billions of dollars in penalties.

Several of Barclays PLC’s top shareholders have raised concerns about the terms of Jes Staley’s departure, as the fallout from his abrupt resignation continues to spread.

Jes Staley exchanged 1,200 emails with Jeffrey Epstein from 2008 to 2012 and the correspondence showed a close relationship between the pair, the Financial Times reported, citing people familiar with the correspondence.

JPMorgan Chase’s Daniel Pinto is moving to New York City as he prepares to assume the role of sole president and chief operating officer at the biggest U.S. bank.

Goldman Sachs Group is awarding a special bonus to Chief Executive David Solomon just months after docking his pay for the bank’s role in a corruption scandal.

The move is one of several the company announced this week and appears to position Anthony Restel, the current chief operating officer, as a potential successor to CEO Bryan Jordan.

Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane will step down at the end of the year. The company said it will unveil succession plans in the coming weeks.

Brian Gunn, who will join the Tokyo-based bank on next month, previously served as chief risk officer at Santander Holdings USA, Ally Financial and a GE Capital subsidiary.

Jamie Dimon said he’s unlikely to be running JPMorgan Chase in 10 years, but he does see himself staying for another five years.

Hafize Gaye Erkan, the San Francisco bank's president, will share the chief executive role with longtime leader James Herbert, whose contract was extended through 2022.

In the midst of its merger with CIT Group, First Citizens in North Carolina has hired an in-house chief counsel with experience in corporate integrations.

Wells CEO Charlie Scharf, a former Jamie Dimon protege, has surrounded himself with JPMorgan Chase alumni. Ling will start in October and join the company’s operating committee.

William "BJ" Losch will become chief financial officer at the Wilmington, North Carolina-based small-business lender. The former CFO of Iberiabank will take over the vacated position at First Horizon on an interim basis.